Corporate Services segment

Business performance

The Corporate Services segment comprises holding companies and other service companies that provide services such as IT and general administration across all segments.

Revenue and earnings

Total segment revenue came to €259.2 million (2022: €214.6 million) and, as in previous years, mainly resulted from internal IT services.

The segment’s adjusted EBIT amounted to €544.7 million (2022: €308.1 million) and was largely attributable to higher internal income from equity investments on the back of an improved financial performance. Excluding internal income from equity investments, adjusted EBIT amounted to minus €100.7 million (2022: minus €82.9 million). The deterioration was mainly due to expenses for strategic projects and to personnel expenses in connection with variable remuneration components.

Adjusted EBITDA stood at €570.3 million (2022: €335.4 million) or minus €75.1 million (2022: minus €55.6 million) if intragroup income from equity investments is excluded.